This paper examines the long-run effects of supply shocks (such as oil shocks) on inflation in the United States. The … persistence of supply shocks in U.S. inflation fell considerably during the period of Volcker's disinflation (1979-1982). My … the behavior of inflation expectations-agents expected shocks to persist in the pre-Volcker period, but not in the post …

Our current inflation stemmed from a fiscal shock. The Fed is slow to react. Why? Will the Fed's slow reaction spur … more inflation? I write a simple model that encompasses the Fed's mild projections and its slow reaction, and traditional … views that inflation will surge without swift rate rises. The key question is whether expectations are forward looking or …

since the early 1990s for a group of 9 economies, 5 of which explicitly target inflation, and ask: To what extent are … disagreements over forecasts of inflation driven by movements in relative prices? The empirical evidence leads to the following … conclusions. First, there is little doubt that IT has contributed to narrowing the forecast differences vis-a-vis U.S. inflation …

rate both matter for determining inflation and economic activity. …

By providing numerical inflation projections. Many central banks currently face inflation well above their targets and … with that the challenge to prevent spillovers on inflation expectations. We study the effect of different communication … about the 2021 inflation surge on German consumers' inflation expectations using a randomized control trial. We show that …

We study the effects of forward looking communication in an environment of rising inflation rates on German consumers …' inflation expectations using a randomized control trial. We show that information about rising inflation increases short- and … long-term inflation expectations. This initial increase in expectations can be mitigated using forward looking information …

By providing numerical inflation projections. Many central banks currently face inflation well above their targets and … with that the challenge to prevent spillovers on inflation expectations. We study the effect of different communication … about the 2021 inflation surge on German consumers' inflation expectations using a randomized control trial. We show that …

by the announcement of inflation targeting in 1991 when estimating the effects of monetary policy. For instance, we find …

We study the effects of forward-looking communication in an environment of rising inflation rates on German consumers …' inflation expectations using a randomized control trial. We show that information about rising inflation increases short- and … long-term inflation expectations. This initial increase in expectations can be mitigated using forward-looking information …